Discover and read the best of Twitter Threads about #ClimateCosts
Most recents (9)
We understand the anger against politicians at #COP26 for delivering a weak, inadequate #ClimateChange agreement. But blaming individual decision-makers ignores the fact that the system rewards failure. Here’s how we tackle that reality. 🧵 (1/15)
Here’s the problem: the profits of the #FossilFuel economy are kept largely separate from its costs. That means that countries/companies/investors who generate products and burn fuels that cause #ClimateChange pocket the profits while others pay the price. 💵 (2/15)
As a result, #FossilFuels appear profitable, and there’s massive incentive for political and economic structures to treat these industries as wealth creators. Which creates incentives for climate denial, downplaying the role of the #FossilFuel industry, etc. (3/15)
Climate change isn’t some distant threat. It’s here, and it’s happening now.
Here are just some of the #ClimateCosts we’re facing:
🔥Bigger, hotter forest fires
🌪More severe weather patterns
🌧Flooding
🌊Rising sea levels
Here are just some of the #ClimateCosts we’re facing:
🔥Bigger, hotter forest fires
🌪More severe weather patterns
🌧Flooding
🌊Rising sea levels
But future #ClimateCosts aren’t limited to threats to our health, environment and national security. Our global economy is going to take a major hit because of the impacts of climate change, threatening economic growth and millions of jobs. 
To act on climate, America needs to kick its carbon habit. Congress should start by transforming the US tax code, anchored by handouts for Big Oil, to reward clean energy, clean transportation fuel and energy efficiency. I have the bill to do it.
Last year, Hurricane Florence tore through NC. Hurricane Michael ripped through FL. And floods put Plains states like NE underwater. It will cost US taxpayers billions of dollars just to repair three bases because of those storms. #climatecosts defensenews.com/smr/federal-bu…
The climate crisis poses an existential threat to our country & our planet. We see #climaterisks every day: record floods. Devastating wildfires. Monster storms. It jeopardizes our air, water, homes, businesses, food, infrastructure, economy, & national security. #climatecosts
Even some giant multinational corporations are starting to disclose to their shareholders that climate change will have an enormous effect on their bottom line – & I have a bill to force them all to fess up. #climatecosts nytimes.com/2019/06/04/cli…
Even @USATODAY is starting to pay attention to #ClimateRisks. (BTW its editorial page did a great editorial some time ago.) The problem is that forces we set in motion today will have this effect in later years. It’s on us to act.
usatoday.com/story/news/nat…
usatoday.com/story/news/nat…
But the climate-denying @WSJ editorial page can’t resist publishing another crank. Unbelievable. Literally. We need good coverage of the threat sea level rise poses to property values, and our entire economy. #ClimateCosts
wsj.com/articles/exami…
wsj.com/articles/exami…
Climate change is a key force weighing on the health of our economy. Fossil fuel political blockade exposes us to major economic risks. #ClimateCosts whitehouse.senate.gov/news/speeches/…
We should not tolerate the fossil fuel industry’s efforts to lead us down the road to an unnecessary financial crisis. We’re creating a risk for generations to come — kids and grandkids won’t thank us for this mess. #ClimateCosts
Now is the time. As Nobel Prize-winning economist @JosephEStiglitz wrote, "the more time that passes, the more expensive it becomes to address climate change." #ClimateCosts
Increasing #ClimateRisks are forcing the insurance industry to recalculate. Climate change may be gradual, but its market effects are volatile. What we are doing currently — nothing—will cost us big.
wsj.com/graphics/clima…
wsj.com/graphics/clima…
Look at Texas. The annual probability of a Texas storm dropping 20 inches of rain is expected to rise from 1% to 18%. When insurance companies get scared, that’s a pretty good sign that we should be too. #ClimateCosts usatoday.com/story/weather/…
Where does this end? For some coastal areas, insurance companies stop offering protection all together. Homeowners will be left on their own to deal with the #ClimateCosts.
We know the consequences of climate inaction:
1⃣#ClimateRisk becomes uninsurable leading to crisis in insurance markets.
2⃣Sudden collapse of coastal property values when markets react to #ClimateRisks of rising sea levels.
At the same time, big corporations feeling they have to do something is significant. It's a signal of where the public has moved. Corps. don’t do this kind of thing without lots of market analysis so this must sell well. The public is clearly with us, as even Luntz polling shows.
It is a signal of where the economics are. Addressing climate is obviously a better business case than ignoring it, as repeated studies show. The last redoubt of climate denial is the false pretense that climate action will hurt the economy
These companies know well that the economy will do much better with climate action. #ClimateCosts
Climate change isn’t just an ecological crisis — it’s on the verge of creating an economic catastrophe.
This isn’t a new development. Experts have been sounding the alarm on #ClimateCosts for years. A thread.
This isn’t a new development. Experts have been sounding the alarm on #ClimateCosts for years. A thread.
2012: an alliance of 200 investment institutions controlling $21 trillion of assets calls for climate action and policies that encourage low-carbon investment. telegraph.co.uk/finance/newsby…
2013: economists and scientists estimate the rapid thawing of the Arctic could trigger an economic catastrophe, costing trillions of dollars and undermining the global financial system. theguardian.com/environment/20…
